Wildfiredao.ethWildfire Gov Update 10/18/22
DeFiAave Proposal; Add TRYB to Aave V3 on Avalanche Network, Isolation ModeBiLira would like to onboard TRYB. This AIP lists BiLira (TRYB) on AAVE V3, Avalanche Network, Isolation Mode, the only 1:1 Turkish Lira-backed stablecoin.The full-reserve stable cryptocurrency BiLira (TRYB) is built on the Ethereum blockchain and available on 6 blockchains. It is secured, collateralized 1:1, and ERC-20 token compliant.TRYB (BiLira) is Aave's good borrowing and collateral asset.Aave will get more ...
Wildfiredao.ethWildfire Gov Update 8/12/22
DeFiAave Proposal; ARC: Add OP as Collateral to AAVE v3The objective of the proposal is to add the OP token to Aave V3 on Optimism as a collateral asset. As the pool's initial liquidity is bootstrapped, the Optimism Foundation may additionally provide incentives.Optimism is an L2 scaling solution that will be introduced by the end of 2021 and is EVM equal. Currently, optimism supports more than 100 dapps and $500 million in on-chain value. Having already saved its customers over $1B in g...
Wildfiredao.ethWildfire Gov Update 8/24/22
DeFiAave Proposal; Aave DAO Stance on Ethereum POW ForkThis ARC requests that the Aave DAO make a commitment to favoring the Ethereum Mainnet's Proof of Stake consensus above any Ethereum forks using an alternative consensus (such as Proof of Work).With the transition from Proof of Work to Proof of Stake, Ethereum is experiencing a fundamental revolution that has been long anticipated. This concise overview provided by BGD Labs provides more information regarding this alteration and its ...
Wildfiredao.ethWildfire Gov Update 10/18/22
DeFiAave Proposal; Add TRYB to Aave V3 on Avalanche Network, Isolation ModeBiLira would like to onboard TRYB. This AIP lists BiLira (TRYB) on AAVE V3, Avalanche Network, Isolation Mode, the only 1:1 Turkish Lira-backed stablecoin.The full-reserve stable cryptocurrency BiLira (TRYB) is built on the Ethereum blockchain and available on 6 blockchains. It is secured, collateralized 1:1, and ERC-20 token compliant.TRYB (BiLira) is Aave's good borrowing and collateral asset.Aave will get more ...
Wildfiredao.ethWildfire Gov Update 8/12/22
DeFiAave Proposal; ARC: Add OP as Collateral to AAVE v3The objective of the proposal is to add the OP token to Aave V3 on Optimism as a collateral asset. As the pool's initial liquidity is bootstrapped, the Optimism Foundation may additionally provide incentives.Optimism is an L2 scaling solution that will be introduced by the end of 2021 and is EVM equal. Currently, optimism supports more than 100 dapps and $500 million in on-chain value. Having already saved its customers over $1B in g...
Wildfiredao.ethWildfire Gov Update 8/24/22
DeFiAave Proposal; Aave DAO Stance on Ethereum POW ForkThis ARC requests that the Aave DAO make a commitment to favoring the Ethereum Mainnet's Proof of Stake consensus above any Ethereum forks using an alternative consensus (such as Proof of Work).With the transition from Proof of Work to Proof of Stake, Ethereum is experiencing a fundamental revolution that has been long anticipated. This concise overview provided by BGD Labs provides more information regarding this alteration and its ...
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DeFi
Aave Proposal; [ARC] Risk Parameter Updates for Ethereum Aave v2 Market
This ARC proposes suspending deposits, disabling borrowing, and sending 100% of the interest paid by FEI borrowers to the Reserve Factor in reaction to the Tribe DAO's intention to reach a terminal state.
The TRIBE governance token and the DAO's assets are being dissolved by Tribe DAO. Due to this, FEI will be backed by DAI 1:1 and redeemable at 1FEI:1DAI. Tribe DAO is entering a terminal condition, and the FEI stablecoin will eventually be exchanged for DAI.
Over time, the circulating supply and liquidity of FEI will decline as it is converted into DAI. Without sufficient liquidity, liquidations can not be completed efficiently which raises danger for the Ethereum Aave v2 market.
This ARC suggests, in response to recent events, that deposits and borrowing be disabled and that 100% of the interest paid by borrowers be sent to the Reserve Factor. It has been suggested in a different forum post that all aFEI be converted to FEI and then exchanged for DAI using the contracts set up by Tribe DAO.
This plan would stop FEI lending and borrowing while allowing debts to be paid off and collateral to be withdrawn.
Balancer Proposal; [BIP-48] Kill FEI/WETH Gauge
According to the author it is no longer necessary for Balancer to sustain FEI liquidity through BAL emissions in light of Tribe DAO's proposal to cease operations. The author feels that terminating this gauge is the best course of action given the current state of uncertainty surrounding FEI.
Balancer Proposal; [BIP-49] ComposableStable and AaveLinearPools: permission granting
New pool factories have been deployed on all networks.
Aave Rebalanced Linear Pool
Composable Stable Pool
To ensure the security and effective management of these pools, this proposal asks for governance authority to assign certain roles to a select group of ecosystem actors.
The emergency halt duration for these new pools is hardcoded at 3 months from the date the factories were deployed, just like it was for earlier pools. In case of vulnerabilities or problems during the pause period, the Balancer Governance Multisig has the authority to gracefully halt the system. Users can always withdraw money, even during an emergency pause, and the pause should only be used when user funds are potentially in danger.
The authors also suggest giving the Emergency subDAO permission to halt the system because assembling 6/11 governance multisig signers in the midst of an emergency may not be possible or practical. Keep in mind that neither the Governance Multisig nor the Emergency subDAO will have any pause power once the three-month pause period has ended.
Balancer Proposal; [BIP-51] Gauge Migration to Composable Stable Pools
As reported by Fernando's Vulnerability Disclosure as of May 17th 2022, a kind hacker discovered a potential vulnerability to controlled and stable pools. Never was any money at risk. The issue must therefore be fixed by upgrading all Phantom stable and managed pools and deploying new contracts.
The following factories used contracts that contained the vulnerability:
InvestmentPoolFactory
StablePhantomPoolFactory
MetaStablePoolFactory
The Balancer Labs team assisted in the facilitation of the fix for the disclosed vulnerability, and governance approved its implementation as indicated by [BIP-31]. Allow the Batch Relayer v3 to operate. The suggested course of action is to allow liquidity gauge incentives to be allowed for all new contracts, provided that they are replacing one of the current gauges that was vulnerable.
Accepting this proposal will ease tension by reducing the number of repeated governance votes for pools that are already in good standing with the protocol. The move for liquidity providers from the soon-to-be-deprecated pools to the recently released contracts will also be less complicated in this simplified format rather than being fragmented.
Balancer Proposal; [BIP-53] Enable crosschain Gauges via LayerZero
Utilizing the LayerZero cross chain messaging protocol, cross chain gauges should be enabled on Balancer. In order to facilitate light-weight messaging between chains, LayerZero is an open and permissionless Omnichain Interoperability Protocol. With adjustable parameters, it delivers messages that are genuine and assured.
The same experience that exists on the mainnet for balancer users should be provided to other chains. Giving LPs incentives to lock BAL for capital deployment on all other networks would maximize veBAL usefulness.
Balancer Proposal; [BIP-54] Authorize Balancer Labs to initiate distributions on Optimism gauges
The notify reward amount(token) function in the L2 ChildChainStreamers must be called every week once BAL designated for L2 gauges is mined and bridged, informing the contract that it has received tokens and should begin distributing them.
If the streamer has no active distribution period, anyone may call that function. In contrast, only the AuthorizerAdaptor is capable of calling it.
The AuthorizerAdaptor on Polygon and Arbitrum permits a multisig controlled by Balancer Labs to call that function in order to ensure prompt distribution of incentives. To make the same feasible on Optimism, this proposal asks for governance permission.
Balancer Proposal; [BIP-55] Funding Proposal for the Balancer OpCo
Balancer OpCo Limited, also known as the "Balancer OpCo," is a fully-owned subsidiary of the Balancer Foundation. It is a crucial component of the Balancer Foundation corporate framework that supports the BalancerDAO.
Balancer OpCo performs two primary duties
Administrative & Operational
Front-End Dev and Engineering
This budget will cover one year July 2022 (Q3 FY22) through June 2023 (Q2 FY23) divided into four quarters.
Q3 FY22 - USDC 62,219 - actual expenses incurred through the end of July 2022 and forecast for August & September June 2022 - immediate payment requested
Q4 FY22 - USDC 418,691 - for transfer 25 September 2022
Q1 FY23 - USDC 464,068 - for transfer 15 December 2022
Q2 FY23 - USDC 533,217 - for transfer 25 March 2022
Q3 FY22 - BAL 116,678.08 - for transfer after the snapshot vote, if successful.
Public Goods
ENS Discussion; Requesting Status Updates
This discussion is requesting status updates in the following initiatives:
Protocol:
Name Wrapper + other contract updates
L2 support?
ENS Name Normalization
DAO:
DAO by-laws
Cool Down Periods
Code of Conducs
RFPs:
Merch Store
ENS Avatar PFP
Misc:
Equinox Collection / Galaxis NFT campaign
Creator Economy
Bankless Proposal; L2 Liquidity Deepening
This temp check is proposing to migrate 50k of liquidity from Sushi and Balancer to the L2 Balancer pool to avoid slippage for AMM operations
The current daily volume on the Balancer Pool on Polygon is $1,000 a liquidity depth of $46,000.
The steps behind the proposal would be as follows:
BDAO multisig would unpair the Sushiswap liquidity.
The multisig would unpair a portion of the Balancer Liquidity (1217788 BANK and 3 ETH ≈ $25,878)
The multisig would then migrate the total amount of assets to Polygon via the Treasury Guild Bridging Service (TBS) to the Polygon multisig (X ADDRESS)
Finally, the multisig would deposit the assets into the Balancer pool at an 80/20% ratio.
The Sushi assets (50/50) would be auto-balanced to the 80/20 ratio.
There are 7 days left to vote on the snapshot
DeFi
Aave Proposal; [ARC] Risk Parameter Updates for Ethereum Aave v2 Market
This ARC proposes suspending deposits, disabling borrowing, and sending 100% of the interest paid by FEI borrowers to the Reserve Factor in reaction to the Tribe DAO's intention to reach a terminal state.
The TRIBE governance token and the DAO's assets are being dissolved by Tribe DAO. Due to this, FEI will be backed by DAI 1:1 and redeemable at 1FEI:1DAI. Tribe DAO is entering a terminal condition, and the FEI stablecoin will eventually be exchanged for DAI.
Over time, the circulating supply and liquidity of FEI will decline as it is converted into DAI. Without sufficient liquidity, liquidations can not be completed efficiently which raises danger for the Ethereum Aave v2 market.
This ARC suggests, in response to recent events, that deposits and borrowing be disabled and that 100% of the interest paid by borrowers be sent to the Reserve Factor. It has been suggested in a different forum post that all aFEI be converted to FEI and then exchanged for DAI using the contracts set up by Tribe DAO.
This plan would stop FEI lending and borrowing while allowing debts to be paid off and collateral to be withdrawn.
Balancer Proposal; [BIP-48] Kill FEI/WETH Gauge
According to the author it is no longer necessary for Balancer to sustain FEI liquidity through BAL emissions in light of Tribe DAO's proposal to cease operations. The author feels that terminating this gauge is the best course of action given the current state of uncertainty surrounding FEI.
Balancer Proposal; [BIP-49] ComposableStable and AaveLinearPools: permission granting
New pool factories have been deployed on all networks.
Aave Rebalanced Linear Pool
Composable Stable Pool
To ensure the security and effective management of these pools, this proposal asks for governance authority to assign certain roles to a select group of ecosystem actors.
The emergency halt duration for these new pools is hardcoded at 3 months from the date the factories were deployed, just like it was for earlier pools. In case of vulnerabilities or problems during the pause period, the Balancer Governance Multisig has the authority to gracefully halt the system. Users can always withdraw money, even during an emergency pause, and the pause should only be used when user funds are potentially in danger.
The authors also suggest giving the Emergency subDAO permission to halt the system because assembling 6/11 governance multisig signers in the midst of an emergency may not be possible or practical. Keep in mind that neither the Governance Multisig nor the Emergency subDAO will have any pause power once the three-month pause period has ended.
Balancer Proposal; [BIP-51] Gauge Migration to Composable Stable Pools
As reported by Fernando's Vulnerability Disclosure as of May 17th 2022, a kind hacker discovered a potential vulnerability to controlled and stable pools. Never was any money at risk. The issue must therefore be fixed by upgrading all Phantom stable and managed pools and deploying new contracts.
The following factories used contracts that contained the vulnerability:
InvestmentPoolFactory
StablePhantomPoolFactory
MetaStablePoolFactory
The Balancer Labs team assisted in the facilitation of the fix for the disclosed vulnerability, and governance approved its implementation as indicated by [BIP-31]. Allow the Batch Relayer v3 to operate. The suggested course of action is to allow liquidity gauge incentives to be allowed for all new contracts, provided that they are replacing one of the current gauges that was vulnerable.
Accepting this proposal will ease tension by reducing the number of repeated governance votes for pools that are already in good standing with the protocol. The move for liquidity providers from the soon-to-be-deprecated pools to the recently released contracts will also be less complicated in this simplified format rather than being fragmented.
Balancer Proposal; [BIP-53] Enable crosschain Gauges via LayerZero
Utilizing the LayerZero cross chain messaging protocol, cross chain gauges should be enabled on Balancer. In order to facilitate light-weight messaging between chains, LayerZero is an open and permissionless Omnichain Interoperability Protocol. With adjustable parameters, it delivers messages that are genuine and assured.
The same experience that exists on the mainnet for balancer users should be provided to other chains. Giving LPs incentives to lock BAL for capital deployment on all other networks would maximize veBAL usefulness.
Balancer Proposal; [BIP-54] Authorize Balancer Labs to initiate distributions on Optimism gauges
The notify reward amount(token) function in the L2 ChildChainStreamers must be called every week once BAL designated for L2 gauges is mined and bridged, informing the contract that it has received tokens and should begin distributing them.
If the streamer has no active distribution period, anyone may call that function. In contrast, only the AuthorizerAdaptor is capable of calling it.
The AuthorizerAdaptor on Polygon and Arbitrum permits a multisig controlled by Balancer Labs to call that function in order to ensure prompt distribution of incentives. To make the same feasible on Optimism, this proposal asks for governance permission.
Balancer Proposal; [BIP-55] Funding Proposal for the Balancer OpCo
Balancer OpCo Limited, also known as the "Balancer OpCo," is a fully-owned subsidiary of the Balancer Foundation. It is a crucial component of the Balancer Foundation corporate framework that supports the BalancerDAO.
Balancer OpCo performs two primary duties
Administrative & Operational
Front-End Dev and Engineering
This budget will cover one year July 2022 (Q3 FY22) through June 2023 (Q2 FY23) divided into four quarters.
Q3 FY22 - USDC 62,219 - actual expenses incurred through the end of July 2022 and forecast for August & September June 2022 - immediate payment requested
Q4 FY22 - USDC 418,691 - for transfer 25 September 2022
Q1 FY23 - USDC 464,068 - for transfer 15 December 2022
Q2 FY23 - USDC 533,217 - for transfer 25 March 2022
Q3 FY22 - BAL 116,678.08 - for transfer after the snapshot vote, if successful.
Public Goods
ENS Discussion; Requesting Status Updates
This discussion is requesting status updates in the following initiatives:
Protocol:
Name Wrapper + other contract updates
L2 support?
ENS Name Normalization
DAO:
DAO by-laws
Cool Down Periods
Code of Conducs
RFPs:
Merch Store
ENS Avatar PFP
Misc:
Equinox Collection / Galaxis NFT campaign
Creator Economy
Bankless Proposal; L2 Liquidity Deepening
This temp check is proposing to migrate 50k of liquidity from Sushi and Balancer to the L2 Balancer pool to avoid slippage for AMM operations
The current daily volume on the Balancer Pool on Polygon is $1,000 a liquidity depth of $46,000.
The steps behind the proposal would be as follows:
BDAO multisig would unpair the Sushiswap liquidity.
The multisig would unpair a portion of the Balancer Liquidity (1217788 BANK and 3 ETH ≈ $25,878)
The multisig would then migrate the total amount of assets to Polygon via the Treasury Guild Bridging Service (TBS) to the Polygon multisig (X ADDRESS)
Finally, the multisig would deposit the assets into the Balancer pool at an 80/20% ratio.
The Sushi assets (50/50) would be auto-balanced to the 80/20 ratio.
There are 7 days left to vote on the snapshot
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